How a Supplier Portal Can Boost Your Business Performance in 2023
If you are a business that deals with multiple suppliers, you know how challenging and time-consuming it can be to manage your procurement process. You have to communicate with your suppliers, send and receive RFQs, purchase orders and shipments, track the status of your orders and deliveries, and ensure that everything is accurate and compliant. All these tasks can take up a lot of your resources and affect your efficiency and profitability.
That’s why you should consider using a supplier portal from i2B, an online platform that connects you with your suppliers and automates your procurement process. An i2B supplier portal can provide you with many benefits that can improve your business performance and give you a competitive edge. Here are some of the benefits of using a supplier portal:
Automate admin tasks
i2B’s supplier portal can provide you with the opportunity to automate various administrative tasks that can otherwise be overly time-consuming. For example, you can send purchase orders to your suppliers. This way, you can reduce manual errors, save time and money, and focus on more strategic activities.
i2B’s supplier portal can provide you and your suppliers with a shared overview of relevant data. For example, you can use a supplier portal to access real-time information about your orders, deliveries, contracts, compliance, and performance. You can exchange documents, reports, feedback, and ratings with your suppliers. This way, you can improve your data quality, accuracy, and transparency, and make better decisions based on reliable data.
Record of actions
i2B’s supplier portal can provide you with a record of actions that have taken place between you and your suppliers. For example, you can use a supplier portal to track the history of your RFQs, contracts, purchase orders, shipments, disputes, and resolutions. You can monitor the performance of your suppliers based on key performance indicators (KPIs) such as quality, delivery time, cost, and service. This way, you can ensure accountability, compliance, and traceability, and identify areas for improvement or recognition.
i2B’s supplier portal can provide you with a central hub for communication and collaboration with your suppliers. For example, you can send and receive messages, notifications, reminders, alerts, and confirmations with your suppliers. You can share best practices, tips, suggestions, and feedback with your suppliers. This way, you can improve your communication efficiency, clarity, and consistency, and build stronger relationships with your suppliers.
i2B’s supplier portal can provide you with the option to automate communications with your suppliers based on predefined rules or triggers. For example, you can send automatic reminders to your suppliers about upcoming deadlines. You can send automatic notifications to your suppliers about changes in orders or deliveries. This way, you can reduce the risk of delays or errors due to human oversight or forgetfulness.
Set your suppliers up for success
i2B’s supplier portal can provide you with the means to set your suppliers up for success by providing them with the tools and resources they need to meet your expectations. For example, you can provide your suppliers with training materials, guidelines, policies, standards, and requirements that they need to follow. You can provide your suppliers with incentives such as discounts or rewards for meeting or exceeding your expectations. This way, you can motivate your suppliers to deliver high-quality products or services on time and on budget.
As you can see, using i2B’s supplier portal can bring many benefits to your business that can boost your performance and profitability. We can help you automate your procurement process, integrate your data systems, keep a record of actions, streamline your communications.
If you’d like a supplier portal for your business, drop us a message and we’ll setup a 30 minute no obligation / no pressure demo of what we can do